Vietnam returns Egroup fraud case files for further investigation

The Supreme People's Procuracy of Vietnam has handed over the case files on the fraud, embezzlement and bribery allegations involving the Egroup Education Group and related companies to the Ministry of Public Security for a first round of supplementary investigation. The investigation period is limited to 60 days starting 27 July 2026.

The indictment names Nguyen Ngoc Thuy, known as “Shark Thuy”, chairman of the board and CEO of Egroup and its subsidiary Egame, as the principal architect of a scheme that inflated the company’s charter capital from VND 32 billion to VND 962.5 billion and sold fictitious shares to investors. Together with finance director Nguyen Manh Phu, chief accountant Pham Thi Thanh Tho and other executives, Thuy is accused of defrauding more than 10,000 victims of over VND 7.6 trillion. Additional defendants include Tong Thi Kim Lien, chairwoman and CFO of Nhat Tran Company, charged with receiving bribes, and 26 other individuals charged with fraud or bribery.